Cheyenne Suarez

PAGCOR chairman Alejandro Tengco and San Miguel Chairman Ramon Ang shake hands at the former's Nayong Pilipino contract of lease signing ceremony. Handout.

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PAGCOR chairman Alejandro Tengco and San Miguel Chairman Ramon

Benise Balaoing

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1734403517588signing ceremony.jpg" style="width:950px" class="fr-fic fr-dib" alt="PAGCOR chairman Alejandro Tengco and San Miguel Chairman Ramon Ang shake hands at the former&#x27;s Nayong Pilipino contract of lease signing ceremony. Handout."/><span class="fr-inner" style="text-align:left">PAGCOR chairman Alejandro Tengco and San Miguel Chairman Ramon Ang shake hands at the former&#x27;s Nayong Pilipino contract of lease signing ceremony. <em>Handout.</em></span></span></span></div><p>MANILA -- San Miguel Corporation is building a new office for the Philippine Amusement and Gaming Corporation (PAGCOR) on the gaming regulator&#x27;s Nayong Pilipino property.</p><p>Under the contract of lease signed by San Miguel and PAGCOR, the conglomerate will build a new office building on a two-hectare portion of the 15-hectare Nayong Pilipino lot in Pasay City.</p><p>The office will span 40,000 square meters with an additional 15,000 square meters for fit-out space, and is valued at P2.45 billion.</p><p>The remaining 13 hectares, meanwhile, will be used by San Miguel for infrastructure to complement airport operations. The firm now leads a <a href="https://www.abs-cbn.com/business/2024/9/14/san-miguel-led-naia-privatization-takes-flight-945" rel="noopener noreferrer" target="_blank">consortium</a> that operates the country&#x27;s main gateway, the Ninoy Aquino International Airport.</p><div><a href="https://www.abs-cbn.com/business/2024/10/1/naia-raises-parking-fees-to-prioritize-passengers-1556" rel="noopener noreferrer" target="_blank">NAIA raises parking fees to &#x27;prioritize&#x27; passengers</a></div><div><a href="https://www.abs-cbn.com/news/business/2024/12/10/new-naia-infra-corp-signs-deal-with-meralco-to-boost-airport-power-supply-1133" rel="noopener noreferrer" target="_blank">New NAIA Infra Corp. signs deal with Meralco to boost airport power supply</a></div><p>In a statement, PAGCOR chairman Alejandro Tengco said the deal is a practical solution to the agency’s need for its own office space.</p><p>“For many years, PAGCOR has operated across various rented locations, with our employees spread out and often working under less-than-ideal conditions,” he noted.</p><p> “While we have always managed to deliver on our mandates, we’ve long dreamed of a day when we could bring everyone together under one roof—a place where we could foster a stronger sense of community, collaboration and shared purpose,” he said.</p><p>Tengco said that aside from San Miguel&#x27;s rental of the 13-hectare property, PAGCOR also expects to receive additional revenues from renting out unused portions of the new corporate office once it is completed.</p><p>San Miguel Chairman Ramon Ang, meanwhile, turned over checks for almost P100 million representing advance rentals and security deposits.</p><p>Ang also said that they will begin construction of the office building as soon as PAGCOR approves of its design.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/IwqPiQGZtPE?&amp;t=4s&amp;ab_channel=ABS-CBNNewsautoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>San Miguel Corporation is building a new PAGCOR office on the gaming regulator's Nayong Pilipino property.</p>

San Miguel Corporation is building a new PAGCOR office on the gaming regulator's Nayong Pilipino property.

San Miguel Corp. to build new PAGCOR office on Nayong Pilipino property

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San Miguel Corp. to build new PAGCOR office on Nayong Pilipino property

Benise Balaoing,

ABS-CBN News

Published Dec 17, 2024 12:07 PM PHT

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